FlexiVan is purchasing substantially all of the assets of New Pride Corp.’s intermodal tire division, the Kenilworth, N.J., intermodal chassis leasing company said Aug. 6.
“We have enjoyed a strong vendor partnership with the New Pride team for many years,” FlexiVan CEO Charlie Wellins said, “and we look forward to expanding operations while building greater value for our customers and FlexiVan.”
FlexiVan said it plans to continue all of the tire operations at the three New Pride locations, the corporate headquarters and tire mounting and distribution facility in Oakland, Calif., the Rancho Dominguez, Calif., tire retreading plant and offices and the Kenilworth tire distribution center. A New Pride service center that is now in Oakland will relocate to Kenilworth, where FlexiVan has its headquarters.
“We are also very excited to move forward with this transaction,” New Pride President Mohsen Ansari said. “The added FlexiVan resources and industry expertise will enable us to expand our customer base and service offerings.”
Terms of the agreement are not being disclosed. However, a FlexiVan official told Transport Topics that no management changes are expected at New Pride and it will be run as a wholly owned subsidiary of FlexiVan. The transaction should be finalized in a matter of weeks.